- published: 14 Jun 2011
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In economics, diminishing returns (also called diminishing marginal returns) is the decrease in the marginal (per-unit) output of a production process as the amount of a single factor of production is increased, while the amounts of all other factors of production stay constant.
The law of diminishing returns (also law of diminishing marginal returns or law of increasing relative cost) states that in all productive processes, adding more of one factor of production, while holding all others constant, will at some point yield lower per-unit returns. The law of diminishing returns does not imply that adding more of a factor will decrease the total production, a condition known as negative returns, though in fact this is common.
For example, the use of fertilizer improves crop production on farms and in gardens; but at some point, adding more and more fertilizer improves the yield less per unit of fertilizer, and excessive quantities can even reduce the yield. A common sort of example is adding more workers to a job, such as assembling a car on a factory floor. At some point, adding more workers causes problems such as getting in each other's way, or workers frequently find themselves waiting for access to a part. In all of these processes, producing one more unit of output per unit of time will eventually cost increasingly more, due to inputs being used less and less effectively.
Joshua Paul "Josh" Davis (born June 29, 1972) better known as DJ Shadow is an American music producer, DJ and songwriter. He is considered a prominent figure in the development of instrumental hip hop and first gained notice with the release of his highly acclaimed debut album Endtroducing....., which was the first album to be recorded using only sampled sounds. He has an exceptionally large personal record collection, with over 60,000 records. He is the cousin of singer and guitarist Richie Kotzen.
DJ Shadow was experimenting with a four-track recorder while in high school in Davis, California, and began his music career as a disc jockey for the University of California, Davis campus radio station KDVS. During this period he was significant in developing the experimental hip hop style associated with the London-based Mo' Wax record label. His early singles, including "In/Flux" and "Lost and Found (S.F.L.)", were genre-bending works of art merging elements of funk, rock, hip hop, ambient, jazz, soul, and used-bin found records. Andy Pemberton, a music journalist writing for Mixmag, coined the term "trip hop" in June 1994 to describe Shadow's "In/Flux" single and similar tracks being spun in London clubs at the time. Though his music is hard to categorize, his early contributions were certainly important for alternative hip hop. He cited groups such as Kurtis Mantronik, Steinski, and Prince Paul as influences on his sample-based sound, further claiming that "lyrics (...) were confining, too specific". His music rarely features more than short clips of voices or vocal work.
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